Fargo, ND—58103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fargo, ND
As of Oct '25, the median home price in Fargo, ND is $261,000, with a year-over-year change of 3.6%. This indicates that home prices in Fargo, ND are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $261,000 | 3.7% |
| Single Family | $271,000 | 3.4% |
| Condos | $161,000 | 3.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $186,000 | 3.9% |
3 Bed | $262,000 | 3.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fargo, ND
As of July '25, Rentcast reports the average rent in Fargo, ND is $896, with a year-over-year rent change of -7.4%. Per bedroom, the median rent as of July '25 in Fargo, ND is studios: $602, 1-bedrooms: $737, 2-bedrooms: $932, 3-bedrooms: $1,380, 4-bedrooms: $1,950. The most common rental property sizes in Fargo, ND are 2-bedroom and 1-bedroom, accounting for 51.2% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $896 |
| Studio Rent | $560 | $602 |
| 1 Bed Rent | $700 | $737 |
| 2 Bed Rent | $825 | $932 |
| 3 Bed Rent | $1,400 | $1,380 |
| 4 Bed Rent | $1,950 | $1,950 |
% of Rental Stock
Property Listings — Fargo, ND
As of Oct '25, Realtor.com reports that the median days on market for a home in Fargo, ND is 43. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $267,000 | -17.0% |
Listing Count | 150 | -6.0% |
| Listings as % of Homes | 0.2% | -6.0% |
Days on Market | 43 | 6.0% |
Demographics — Fargo, ND
As of the latest ACS Survey released in 2023, Fargo, ND has a population of 48,500, which has decreased by -1.7% over the past 5 years. Fargo, ND is a moderately popular place for families, as children make up 20.5% of the population. The area has a moderately educated workforce, with 36.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 48,500 | -1.7% |
% Under 18 | 20.5% | -1.0% |
% Seniors | 16.0% | 26.0% |
% WFH | 7.8% | 178.6% |
% w/ College Degree | 36.8% | 16.8% |
As of the latest ACS Survey released in 2023, Fargo, ND is a predominantly white area, with 74.0% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Fargo, ND is black, making up 12.3% of the population. Foreign-born residents account for 14.8% of the population in Fargo, ND, and this percentage has increased by 11.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.0% | -4.1% |
% Black | 12.3% | 23.0% |
% Hispanic | 3.7% | -7.5% |
% Asian | 4.4% | -15.4% |
% Foreign Born | 14.8% | 11.3% |
Mortgage and Risk — Fargo, ND
According to HUD data as of 2023, there were 562 mortgage originations in Fargo, ND, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Fargo, ND. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 562 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Fargo, ND
As of 2024, the percent of homes in Fargo, ND under the Section 8 program is 8.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Fargo, ND, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,219 |
Total Units Section 8 | 1,139 |
% Rentals under Section 8 | 8.1% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $700 | $780 |
| 2 Bedroom | $115 | $825 | $940 |
| 3 Bedroom | -$80 | $1,400 | $1,320 |
| 4 Bedroom | -$370 | $1,950 | $1,580 |
Affordability — Fargo, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $261,000 |
| Median Household Income | $57,700 |